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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
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- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
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